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is 20 years the new 10 year cycle??

Discussion in 'General Property Chat' started by GLAM, 10th Jan, 2017.

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  1. Perthguy

    Perthguy Well-Known Member

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    23rd Jun, 2015
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    Perth
    Nov 2011 for me in Perth. Area started booming less than 12 months later
     
  2. thatbum

    thatbum Well-Known Member

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    18th Jun, 2015
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    Perth, WA
    Remembering back, I think a lot of the regulars on somersoft back then called the Perth boom fairly accurately. It was pretty easy to see it happening even as a beginner back then.

    Its a bit of a different story now - the rental yields just aren't there compared to 2011/2012.
     
  3. Gockie

    Gockie Jobseeking! SQL Developer Premium Member

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    Sydney
    I think some of the reasons for recent booms in some locations are:
    * Removal of the FHB grant on existing properties,
    * The boom in mining,
    * The lack of well located affordable housing in Sydney yet people still need to migrate here for family and job reasons.
    * Melbourne also has strong migration due to jobs and family
    * Low interest rates meant that homes could be "affordable" to own as long as you have a deposit
    * Job market generally and health of the local economy. Which can come down to Government.
    * Money coming in from overseas cashed up migrants (around me, the vast majority of buyers are Chinese/Chinese heritage)
    * Infrastructure works

    There are probably other drivers but this is what I can think of just off the top of my head.
     
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  4. MTR

    MTR Well-Known Member Premium Member

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    Perth, Melbourne, USA
    Yes, we had a massive thread on it, the numbers went something like this a balanced market is around 12000 properties, boom time went down to 7000 properties.
    Amazing stuff, stock was low and demand was high